Sechaba, the owners of St.Loius Lager and Chibuku shake shake Wednesday recorded a decline on its shares by 2 thebe ahead of a dividend payout to shareholders expected today (Friday). For the half-year results to September 2012, the Botswana Stock Exchange (BSE) listed brewer declared a dividend of 25 thebe to shareholders.
Addressing a group business journalists this week, visiting professor of journalism at University of Pretoria said normally shares of company will increase/decrease a few days before a dividend pay, but this largely depends on whether the declared dividend is high or not. Sechaba, which has since returned to profitability after a streak of losses in the past three years due to alcohol levy, closed the day trading at 1561 thebe. The company currently commands a market capitalisation of P2 billion one of the highest at the local bourse.